Canada: PMI drops in March
April 7, 2015
The Ivey Purchasing Managers’ Index (PMI), which is sponsored by the Richard Ivey School of Business and the Purchasing Management Association of Canada, fell a seasonally-adjusted 1.8 points, from February’s 49.7 points to 47.9 points in March. The decrease contrasted the 4.3-point increase recorded in the previous month. As a result, the volatile index is now further below the 50-point threshold that indicates expansion in the manufacturing sector.FocusEconomics Consensus Forecast panelists see industrial production expanding 3.3% in 2015, which is down 0.1 percentage points from last month’s forecast. For 2016, the panel expects industrial production growth of 2.8%.
Author: Dirina Mançellari, Senior Economist